DISH Network Corporation (NASDAQ: DISH) shares rose on Wednesday January 25 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, the Dow Jones Industrial Average on Wednesday crossed the 20,000 level for the first time, while the S&P 500 and Nasdaq Composite also traded in record territory shortly after the market opened
The Dow Jones Industrial Average DJIA, +0.60% advanced 100 points, or 0.5%, to 20,012,
The S&P 500 index SPX, +0.55% gained 10 points, or 0.5%, to 2,289, with eight of the main 11 sectors trading higher.
The Nasdaq Composite index COMP, +0.66% was 30 points, or 0.6%, higher at 5,630.
All three main indexes set intraday records shortly after the opening bell.
Citigroup Inc. analysts reiterated its Focus List rating on DISH Network Corporation (NASDAQ: DISH) in a note to investors, making it one of the more closely watched stocks on Wall Street. Citigroup Inc. currently has a rating of Focus List on the stock. The one-year price target of $73.81 is higher than the opening price of $62.87, resulting a number of other analysts to comment on the company recently. Looking back over the last year, DISH Network Corporation stock has a high of $63.00. Stock prices often shift to the upside on recommendations and new price targets of professional analysts.
Yesterday DISH Network Corporation (NASDAQ: DISH) shares last traded at $62.56, which is a spike of $0.13 compared to the previous closing price. Opening at $62.87, they fluctuated from $62.38 and $63.00 throughout the day.
DISH Network Corporation (NASDAQ: DISH) now has a market cap of 29.09B.
DISH Network Corporation (NASDAQ: DISH) Average Daily Trading Volume
The stock’s average daily volume is 1,879,560 shares out of a total float 219,059,000 and some 224,926 shares traded hands yesterday, 82 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts researching thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re researching.
DISH Network Corporation (NASDAQ: DISH) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for DISH Network Corporation (NASDAQ: DISH) have ranged from $38.85 – 63.000, and the stock now has a 50-day MA of $59.97 and 200-day MA of $55.30. Today’s last price is 0.71%% lower than the 52 week high of $63.00.
Earnings growth is a critical factor to look at when investing in stocks and investors look for companies that have been successful at growing their earnings by at least 25% over a 3 year period.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.